NDP roll out secondary suite program, but critics challenge how effective it will be
B.C.'s NDP government launched its latest measure to address the housing affordability crisis Thursday: a secondary suite program that gives homeowners up to $40,000 in forgivable loans to build a suite or laneway home on their primary property, if they agree to rent it out at below market rates for five years.
“One group of people who've come forward and really wanted to provide housing, wanted to provide additional housing units, are people who are already homeowners,” said Premier David Eby on Thursday when announcing the launch.
The rents are set by the province, based on the community. For example, in Vancouver, a two-bedroom suite is capped this year at $2,100 per month. In Kelowna, it's just under $1,836, and in Victoria, it’s $1,760.
Although secondary suites have been greenlit by the NDP across B.C., the program still requires homeowners to get occupancy and building permits – red tape handled at the municipal level that could add significantly to the time and cost of the process, according to Realtor Marko Juras.
“(It means) doing those various inspections, dealing with a lot of headaches in these older houses, which will probably – in my opinion – eat into all of that $40,000,” said Juras.
And BC United leader Kevin Falcon points out that despite a flurry of housing announcements since last fall, real estate prices and rents haven't dropped in the past six months. The latest real estate figures show sale prices have inched up in Vancouver.
“We now have the most unaffordable housing prices in North America, and we have the highest rents in the entire country. Those are very poor results,” said Falcon.
Eby responded Thursday that many of the new measures – like short-term rental restrictions – had not been fully implemented, but would be soon. He also pointed to the large numbers of people moving into the province.
“For those that are frustrated, I get it,” he said. “We have about 10,000 people every 37 days moving into the province.”
The three-year pilot project is capped at 1,000 secondary suites a year. The government says there’s been lots of interest already, with 5,000 people registering for updates on the program.
How many secondary suites actually get built and when is another question.
CTVNews.ca Top Stories
Poverty report cards: Which provinces got the worst grades?
Poverty and food insecurity have worsened in most of Canada in the past year and most provincial governments aren't doing enough to address the problem, according to a just-released series of report cards.
Woman found dead in Lake Ontario in 2017 matches identity of missing person in Switzerland
Genetic genealogy has helped Toronto police identify a woman who was found dead in Lake Ontario in 2017.
With 10K providers offering care to 2M seniors, health minister defends dental plan
Canada's dental care plan is 'getting there' Health Minister Mark Holland said Wednesday defending the program's rollout that's now seen two million seniors sign up, but just 10,000 oral health providers enrolled to treat them.
Fish oil supplements may raise risk of stroke, heart issues, study suggests
As an excellent source of heart-healthy omega-3 fatty acids, daily fish oil supplements are a popular way to keep the risk of cardiovascular disease at bay.
Private island on Nova Scotia's South Shore listed for $15.8M
A private island on Nova Scotia’s South Shore has been listed for sale with a $11.5-million USD price tag.
'Happy tears' of victim's sister after prison attack on serial killer Robert Pickton
Cynthia Cardinal said she was 'overwhelmed' with happiness when she received a text message on Monday with the news that serial killer Robert Pickton, who murdered her sister, was attacked in prison. She called it 'karma.'
WestJet calls for full federal review of aviation funding model
The CEO of WestJet Airlines says he is calling for a full federal government review of the way airports and aviation infrastructure in Canada are funded.
May’s full flower moon will light up the sky this week
Stargazers are in for a treat this week: The full moon returns for its May engagement, peaking on Thursday morning.
Montreal photographer captures dramatic Canada goose vs. fox fight on video
A Montreal photographer captured the moment a Canada goose defended itself from a fox at the Botanical Garden.